MPL staking now live
From today, Monday 30th May, holders of MPL can put their MPL to work and immediately begin to benefit from Maple’s growth through staking. We are excited to introduce staking to provide protocol participants with the opportunity to receive returns for their long-term participation and work in guiding the Maple protocol.
From today, Monday 30th May, holders of MPL can put their MPL to work and immediately begin to benefit from Maple’s growth through staking.
We are excited to introduce staking to provide protocol participants with the opportunity to receive returns for their long-term participation and work in guiding the Maple protocol.
This post shares a step-by-step, and background on this new initiative.
Staking, step by step
Visit https://app.maple.finance/#/xmpl and connect your wallet with your MPL balance.
Enter the amount of MPL you wish to stake, and proceed. You will pay gas just once.
You will see xMPL in your wallet (xMPL is the smart contract token which MPL accrues to)
Return to the same page to watch your MPL grow and compound, unstake your position at anytime.
Once you have xMPL in your wallet, you can participate in governing the Maple protocol. Head here and follow the steps provided by collab.land.
Here is a step by step in more detail: https://maplefinance.gitbook.io/maple/protocol/maple-token-holders/how-do-i-stake-the-maple-token
Join the discord for regular updates, including staking metrics and future utility: https://discord.com/channels/576728229449170954/976491835889434684
For more information on changes to tokenomics, click through to the staking hub on our site: https://maple.finance/stake
At launch, Maple will use 50% of protocol revenues to buy MPL back from the open market. This MPL will then be evenly distributed to participants that stake their MPL into a Maple owned smart contract and participate in the protocol long-term.
Expected returns: Returns from staking are derived from protocol revenues, balances compound overtime, and participants can withdraw at anytime so holdings remain liquid, but earn protocol revenues rather than sitting idle. We estimate initial APYs to be 5–10%.
Stake as soon as possible: We are bootstrapping the launch by issuing 30,000 MPL to early stakers, streamed over a three month period. That’s in addition to the DAO using 50% of monthly protocol revenues to buyback MPL from the open market - as mentioned we estimate initial APYs to be 5–10%.
Stay in control: Return to the WebApp to monitor returns, stake more MPL, partially or fully unstake at anytime. Returns compound overtime and additional utility will be introduced in Q3.
Important information: Simply holding MPL will not earn a share of Maple protocol revenues, MPL must be staked to participate. It’s important to note that staking MPL is separate to ‘staking’ Pool Cover. With this new initiative, by staking MPL you simply earn a share of Maple’s revenues, you are not providing capital into a first-loss tranche.
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Q1 2022 Maple Treasury Report
In the first quarter of 2022 Maple turned a profit for the first time, driven by increased loan volumes and revenue, exceeding the previous 3 quarters combined.
Share in Maple’s growth with upcoming changes to tokenomics
Maple has found product-market fit, and wishes to share growth with participants who take an active role in the protocol. On Monday 30th May, holders of MPL can come to the WebApp, stake MPL and immediately begin to benefit from Maple’s growth.